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BTC price falls below $38K as Tencent leads worst China tech rout since July

Pressure on Chinese tech stocks adds to a potent cocktail of inflation and geopolitical strife, with Wall Street closed for trading.
Bitcoin (BTC) kept falling lower on Feb. 21 as $38,000 became the latest level to fail the test for bulls.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$40,000 eyed as BTC relief bounce targetData from Cointelegraph Markets Pro and TradingView painted a grim picture for BTC/USD Monday, as $38,000 support abruptly vanished after holding throughout the weekend.#BTC Update 1h TFFirst retest of key trendline since reclaim @ $38,5k Current range $36,6k – $37,8k pic.twitter.com/sjxUv7AGlV— AN₿ESSA (@Anbessa100) February 21, 2022

While threatening to invalidate analysts’ hopes of a bottom being in, the chances of a rebound to $40,000 were nonetheless good, one argued.”Not expecting this leg to go very deep tho, should see a bounce towards 40k soon,” Crypto Ed told Twitter followers

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We współpracy z: https://cointelegraph.com/news/btc-price-falls-below-38k-as-tencent-leads-worst-china-tech-rout-since-july

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